Russia. High protein wheat supplies are tight

Last week export price of Russian milling wheat continued the upward tendency, informsUkrAgroConsult. 12.5% milling wheat gained $1 in Novorossiysk port up to $175-177/MT FOB with shipment in October-November and $2-3 in Azov port up to $155-158/MT FOB.

Export price of 11.5% milling wheat also gained $2-3 over the week to $171-173/MT FOB in в Novorossiysk port with shipment in October-November. On the whole, importers wait offers of higher quality wheat from Russia.

According to UkrAgroConsult, the situation with availability of high protein wheat remains difficult on the domestic market. Increase in domestic prices was limited by Ruble strengthening, but producers are still hold to quality wheat. Competition is getting tough for the quality commodity as demand is higher than supply. Some export oriented companies increased their demand prices for 12.5% milling wheat to RUB 11000/MT in ports and even higher, but on the whole the price ranged within RUB 10500-10800/MT СРТ.

More information on price behavior on grain market in the countries of Black Sea region is available to subscribers for weekly market report"Black Sea Grain & Oil" by UkrAgroConsult.

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